FX.co ★ Actual patterns. Technical analysis and trading recommendations

The technical pattern called Head and Shoulders has appeared on the chart of AUDJPY M30. There are weighty reasons to suggest that the price will surpass the Neckline 110.91/110.93 after the right shoulder has been formed. So, the trend is set to change with the price heading for 110.63.

The Double Top pattern has been formed on AUDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 111.16 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDJPY M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 111.42 is broken. The further movements will rely on the width of the current pattern 51 points.

The Double Bottom pattern has been formed on AUDJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 111.02 is broken. The further movements will rely on the width of the current pattern 8 points.

On the chart of the AUDJPY M15 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 110.77, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 38 points.